5 minute read
Is JustMarkets Legal in Dubai? A Comprehensive Review
from JustMarkets
by Exness_India
If you are a trader living in Dubai or anywhere in the UAE and considering trading with JustMarkets, the most pressing question is: Is JustMarkets legal in Dubai? The short answer is yes—residents can legally use JustMarkets to trade forex and CFDs. However, it’s crucial to understand the broker’s regulatory status, legal standing, and trading conditions in the UAE before opening an account.
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This article provides a detailed, step-by-step overview to help Dubai traders make informed decisions.
Understanding JustMarkets’ Regulatory Status
JustMarkets, previously known as JustForex, is an internationally recognized broker specializing in forex, commodities, indices, and CFD trading. While it does not hold licenses from UAE authorities such as the Dubai Financial Services Authority (DFSA) or the federal Securities and Commodities Authority (SCA), it is regulated in multiple respected jurisdictions:
· Cyprus Securities and Exchange Commission (CySEC) – License number 401/21
· Seychelles Financial Services Authority (FSA) – License number SD088
· Financial Services Commission (FSC) of Mauritius – License number GB22200881
· Financial Services Commission (FSC) of the British Virgin Islands – License number SIBA/L/24/1177
These licenses indicate that JustMarkets adheres to strict international financial standards, including segregation of client funds, transparency in operations, and compliance with anti-money laundering (AML) regulations. For Dubai traders, this provides a reliable safety net even though the broker is not licensed locally.
Legal Operations in Dubai
Dubai is a major financial hub, with strict regulations for financial services. The DFSA regulates firms operating within the Dubai International Financial Centre (DIFC), a special economic zone with its own financial rules.
Key point: JustMarkets does not operate within DIFC. This means it is not under DFSA jurisdiction. However, the UAE allows residents to use international brokers that are regulated in their home countries or recognized jurisdictions. Therefore, trading with JustMarkets in Dubai is legal, as long as the broker complies with its international regulatory standards.
Moreover, JustMarkets has gained regional recognition. In 2024, it was awarded “Most Reliable Broker” at Forex Expo Dubai, reflecting its credibility among traders in the UAE and the broader Middle East.
Trading Instruments and Account Types
Dubai traders using JustMarkets can access a wide range of instruments:
· Forex pairs: Major, minor, and exotic currencies
· Commodities: Gold, silver, crude oil, and natural gas
· Indices: Global stock indices such as S&P 500, FTSE 100
· CFDs: On stocks, cryptocurrencies, and other assets
JustMarkets offers several account types to suit different trading needs:
1. Standard Account: Low minimum deposit, suitable for beginners.
2. Pro Account: Tight spreads, higher leverage options, designed for active traders.
3. ECN Account: Direct market access with raw spreads, ideal for professional traders.
4. Islamic Swap-Free Account: Compliant with Sharia law, removing overnight interest fees for Muslim traders.
With these options, UAE traders can select an account type based on experience, capital, and risk tolerance.
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Deposit and Withdrawal Options for UAE Traders
JustMarkets provides flexible banking options to accommodate Dubai residents:
· Bank transfers: Local and international
· Credit/debit cards: Visa, MasterCard
· E-wallets: Skrill, Neteller, and others
The broker processes withdrawals quickly, generally within 24–48 hours. The availability of Islamic swap-free accounts also makes JustMarkets appealing to Muslim traders who must comply with Sharia law.
Security and Client Protection
Even though JustMarkets is not licensed locally, it follows global best practices for security:
· Segregated client funds: Trader funds are stored separately from company funds.
· SSL encryption: Ensures secure data transfer.
· Regulatory audits: Conducted regularly by its licensing authorities.
For Dubai traders, these protections mean that client money is safer than trading with unregulated brokers that may operate illegally.
Advantages of Trading with JustMarkets in Dubai
1. International Regulation: Licenses from CySEC, FSA, and FSC provide peace of mind.
2. Multiple Account Options: From beginner-friendly standard accounts to ECN for professionals.
3. Islamic Compliance: Swap-free accounts for Sharia-compliant trading.
4. Wide Market Access: Forex, commodities, indices, and CFDs in one platform.
5. Competitive Trading Conditions: Low spreads, high leverage options, and advanced platforms.
Potential Risks and Considerations
While JustMarkets is legal, traders in Dubai should remain aware of potential risks:
· Not DFSA regulated: No local oversight means limited recourse in disputes.
· High leverage risk: UAE traders must use leverage responsibly to avoid losses.
· Volatility: Forex and CFD trading are inherently risky; market swings can cause significant losses.
To minimize risks, it’s recommended to start with smaller trade sizes, use risk management tools, and continually educate yourself about market conditions.
User Experience and Platform Features
JustMarkets provides MetaTrader 4 and MetaTrader 5 platforms, popular among forex traders for:
· Real-time charts and analytics
· Automated trading via Expert Advisors
· Mobile and desktop access
Customer support is available 24/7 via live chat, email, and phone, including assistance in English and Arabic, making it convenient for Dubai-based clients.
Conclusion: Is JustMarkets Legal in Dubai?
In summary:
· Yes, JustMarkets is legal for Dubai traders.
· It is not licensed by UAE authorities but holds internationally recognized licenses ensuring security and compliance.
· The broker offers a wide range of instruments, account types, and secure deposit/withdrawal options.
· Islamic swap-free accounts allow Sharia-compliant trading.
· Dubai traders should still practice responsible trading and start small until they are comfortable with the platform.
For anyone in Dubai seeking a reputable international broker with proven credibility, JustMarkets is a legal, reliable, and practical option to explore global markets.
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